Crypto bull run predictions: Will Bitcoin, Altcoins surge to new highs in Q4?

• A bullish flag sample appeared on the weekly altcoin market cap chart.
• The Bitcoin rainbow chart urged that BTC was within the ‘nonetheless low-cost’ part.

The crypto market has seen a number of upswings this yr, however none of them lasted lengthy. Most of those worth will increase had been adopted by corrections. Nonetheless, issues could also be completely different within the final quarter of the yr.

This seemed to be the case as a number of components indicated a long-term bull cycle, which had the potential to push the market to new highs. Let’s take a more in-depth take a look at what signaled a crypto bull run within the coming months.

Will Bitcoin Lead the Subsequent Crypto Bull Run?

Bitcoin [BTC] shocked traders this yr because it managed to achieve an all-time excessive of over $72,000 within the first quarter. Ethereum [ETH]the king of altcoins, additionally gained bullish momentum throughout that point however failed to check its ATH by an enormous margin.

However, BTC shortly fell from that degree and has struggled considerably. Within the final 24 hours alone, the value of BTC fell by 5% and it was trade for $59,097.36.

ETH’s destiny was comparable because it witnessed a 7% worth drop. On the time of writing, ETH was valued at $2,458.85.

Nonetheless, the approaching months could possibly be completely different as BTC could also be planning a large rally if historic knowledge is to be believed. Bitcoin has all the time gained bullish momentum after just a few months of halving.

The truth is, BTC has all the time reached an ATH after the halving. To be exact, after BTC’s second halving on July 9, 2016, BTC turned bullish and reached an ATH in December 2017.

Supply: Santiment

Equally, after the third halving on Could 11, 2020, BTC gained bullish momentum in October 2020 and reached an ATH just a few months later. Because the final BTC halving passed off in April 2024, there was a superb likelihood that BTC would present a bull run within the fourth quarter of 2024.

One other fascinating metric to keep watch over is the MVRV ratio. If we glance intently on the statistic, it seems that it exceeds 30% each time BTC reaches an ATH.

On the time of writing, BTC’s MVRV ratio stood at 2.92%. This clearly urged that BTC was ready for a worth improve within the coming months.

Other than that, AMBCrypto’s take a look at the Bitcoin Rainbow Chart revealed that BTC was within the “nonetheless low-cost” part. This indicator additionally urged that traders ought to think about shopping for the coin earlier than it turns bullish.

Supply: Blockchaincenter

Altcoins are additionally planning a rally quickly

Normally, the market tends to observe BTC as it’s the largest cryptocurrency. Due to this fact, within the occasion of a bullish BTC breakout, the possibilities of altcoins additionally turning bullish had been excessive.

However, altcoins even have a trick up their sleeve that alerts a bull run. AMBCrypto’s take a look at the weekly altcoin market cap chart revealed a bullish flag sample.

Supply: TradingView

The bullish sample emerged in March and since then the market capitalization of altcoins has been consolidating inside it. If a bullish breakout happens within the coming months, traders will witness a serious improve available in the market capitalization of altcoins.

The truth is, a breakout might permit the altcoin market cap to regain $1.24 trillion earlier than it begins its journey to its $1.58 trillion ATH.

Nonetheless, within the brief time period, issues won’t be good as there was an opportunity that the market cap would fall to the help degree of $702 billion. At that degree, the market cap chart might recuperate and transfer in the direction of the higher restrict of the bullish flag sample.

The altcoin seasonal index remained in BTC’s favor because it reached a studying of 24. A quantity nearer to or larger than 75 signifies an altcoin season.

Supply: Blockchaincenter

Why memecoins have nice potential

Whereas most eyes have been on prime cryptos like BTC and ETH, traders shouldn’t disparage memecoins as these cryptos have proven promising efficiency in current months.

Other than prime memes like Dogecoin [DOGE] And Shiba Inu [SHIB], Solana [SOL]-based memecoins have gained a whole lot of traction recently.

Learn Bitcoin’s [BTC] Value forecast 2024–2025

For reference, canine hat [WIF] has proven a worth improve of greater than 800% since its founding in 2024. POPCATone of many latest additions to SOL’s meme ecosystem, carried out even higher, as its worth elevated by 4,184% since launch.

Due to this fact, whereas we keep watch over the efficiency of prime market cap cryptos, it’ll even be essential to see how the namecoin market fares in the course of the subsequent crypto bull run.